GBP is outperforming on stronger trade – Scotiabank

FXStreet Insights Team FXStreet

The Pound Sterling (GBP) is up 0.3% against the US Dollar (USD) and outperforming all of the G10 currencies as we head into Thursday’s NA session with gains driven by the release of stronger than expected domestic data, Scotiabank's Chief FX Strategists Shaun Osborne and Eric Theoret report.

GBP outperforms on industrial production data

"Trade and industrial production both surprised to the upside in August, offering a positive offset to the disappointing employment figures released earlier this week. Sentiment remains a dominant driver for GBP and spread correlations are weak, with markets focused on fiscal developments and the need for a larger buffer into the November 26 budget release."

"Tthe RSI is at 50 and the GBP’s latest recovery is threatening a break of the 50 day MA at 1.3476. We see limited resistance ahead of 1.35 and look to a near-term range bound between 1.3380 and 1.3480."

Author

FXStreet Insights Team

FXStreet

The FXStreet Insights Team is a group of journalists that handpicks selected market observations published by renowned experts. The content includes notes by commercial as well as additional insights by internal and external analysts.

GBP/USD hovers around 1.3300 as US Dollar struggles ahead of Fed

GBP/USD defends minor bids around 1.3300 in the European trading hours on Wednesday. The pair stays supported as the US Dollar struggles ahead of the Federal Reserve’s upcoming policy decision. However, the upside appears capped by renewed escalation in the Middle East and surging Oil prices.

EUR/USD keeps range around 1.1400 ahead of Fed policy decision

EUR/USD oscillates in a narrow range around 1.1400 in European trading on Wednesday. The pair treads water as the US Dollar struggles, despite risk aversion. Investors keenly await the Federal Reserve’s upcoming policy decision for fresh directional impetus.

Gold extends recovery to $4,050, with eyes on FOMC

Gold builds on its steady intraday recovery from an over one-week low and climbs closer to the $4,050 level in the European session on Wednesday. A modest US Dollar downtick supports the commodity, though the upside potential seems limited ahead of the FOMC policy announcements.

Bitcoin slips below support, Ethereum and XRP flash bearish signals

Bitcoin, Ethereum and Ripple remain under pressure on Wednesday after a mild correction earlier this week. BTC slips below a key support zone, and ETH is testing a key resistance zone. Meanwhile, XRP is drifting toward the psychologically important $1.00 support level.

South Korean Won nears four-month highs despite the KOSPI index selloff

The South Korean Won (KRW) extends gains for the second consecutive day against the US Dollar (USD), and is set for a 6.5% monthly rally. Strong South Korean macroeconomic data and market expectations of monetary tightening by the Bank of Korea have offset the KOSPI Index’s sell-off.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.